As Greece races to complete a lengthy list of reforms in order to unlock their €130bn bailout, Chinas manufacturing sector contracts for the 4th consecutive month giving birth to concerns of a slowdown in China.
China is thought by some economists to be the life support of the global economy at the moment, so any sign of their economy faltering should not be overlooked.
In Europe, scepticism is rife as spread trading investors rushed to criticise the bailout saying that Greece will not comply to the reforms demanded, with some saying a default is only months if not weeks away.
These accusations do carry some weight however as Athens failed to live up to the terms set 2 years ago for their first bailout worth €110bn. Only time will tell, however, it is refreshing for Europe to finalise an agreement!
Article by Spreadex.
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